There's a new group out there opposing Janet Yellen's nomination as Fed Chief because they say she's an "inflationist."
These guys don't give up.
Check out the video that this group made and in particular, the idiotic comments by Jim Grant, who keeps saying the same things over and over and over and has never been right in his life.
And there's this by James G. Rickards, anotehr gold blug, hard money, debt doomsday, inflationista who says that Bernanke and his "helicopter money" well, that was nothing. The REAL helicopter money is coming with Yellen.
They just don't give up.
5 comments:
Their reputations rest on being wrong economically but "right" ideologically. People believe what they want to hear regardless of the facts. Studies have shown that these people just double down when contrary facts are shown to them. That's the way ideology works.
From what I've seen, Yellen is a Market Monetarist.
The great news is that she spotted the housing bubble years before it popped.
"The great news is that she spotted the housing bubble years before it popped."
Does not mean she would do anything if in an authority position though. I'm pretty sure both Greenspan and Bernanke (the latter not as FED chairman yet ofc) were aware of the bubble too.
And I may add, that the FED can hardly do anything about these unless they want to wreck the economy (usury interest rate levels). Asset portfolio management by CB's can place a floor, but never a top.
That's a regulatory/law issue that has to be managed by other institutions. hard if these are full of crocks bought by the FIRE sector.
Did he (Rickards) really say "Michael Carney"?!?
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